Tata Elxsi, a design company part of the Tata Group on Monday announced the launch of its start-up initiative. Through the new plan called as incub@TE, the company plans to nurture and support aspiring entrepreneurs in the country.

As part of the new initiative company will help technology start-ups in the areas of mobile, social, local, enterprise, cloud and embedded applications to create the next wave of product and services

“Tata Elxsi has been focused on technology and new product and service development and nurturing talent and innovation has always been our way of life. We are looking forward to work with the aspiring, young entrepreneurs to help them realize their full potential,” said Madhukar Dev, MD & CEO, Tata Elxsi.

The company part of the $ 100 billion Tata group will also provide infrastructure, expertise and support in access to key markets and funding for the start-ups.

Many global companies like Cisco, Microsoft, Intel have already launched initiative in India to help the start-ups ecosystem. The Indian start-up ecosystem has improved and many incubators and accelerators have been launched in India.

Recently, serial entrepreneur Vinod Khosla promoted Khosla ventures also has opened an incubator in India for social ventures called as Khosla labs.

In the past year, several start-up accelerators, especially in the technology space, have been launched in the country. Some of them are 500 Startups, GSF Acclerator, 5 Ideas and these accelerators help entrepreneurs to make their ideas into viable businesses venture.